Promoting the role of the banking sector in achieving the Net-Zero target in Vietnam

Abstract

This paper examines the role of the Vietnamese banking sector in promoting green finance and integrating Environmental, Social and Governance (ESG) standards into strategic operations. Utilizing qualitative methods and case studies of five major commercial banks- namely BIDV, Agribank, Vietcombank, TPBank and SeABank, with data collected from 2020 to May 2025, the study reveals that ESG maturity remains limited due to the absence of a unified legal framework, weak internal capacity, and low ESG awareness. The paper contributes by benchmarking domestic practices against international experiences from leading institutions such as the Development Bank of Singapore (DBS) and ING Group (Netherlands). Based on this comparative analysis, the study proposes a set of solutions, including regulatory improvement, capacity building for banks, development of green financial products, and enhanced support for businesses in their sustainable transition